Alcoa: The Pittsburgh-based aluminum company reported a...

Alcoa: The Pittsburgh-based aluminum company reported a 1990 profit of $295.2 million, a 69% drop from 1989’s $944.9 million. Revenue of $10.7 billion was about the same as 1989’s. The company said it lost $140.4 million in the fourth quarter, contrasted with a $164.7-million profit in 1989. Revenue of $2.71 billion was up slightly from 1989’s. Alcoa, which took a $275-million restructuring charge in the fourth quarter, said lower prices for ingot and fabricated aluminum products dampened 1990 profit.